Needham & Company Raises Estimates on 'Buy' Rated Cray (CRAY); Positive Outlook as HPC Environment Appears Healthy
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Price: $17.60 +0.11%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CRAY Now!
Needham & Company maintains a 'Buy' on Cray (NASDAQ: CRAY) price target of $15.00 (from $14.00).
Analyst, Glenn Hanus, said, "Cray reported 2Q about as expected and reiterated 2012 guide as all contracts required have been awarded. A key dependency remains timely delivery of “Kepler” chips. Cray is tracking to meet its ‘12 goal of 10% of revenue from “new initiatives”. Cray is building its pipeline and awards for ’13 as its competitive position in HPC appears strong and "new initiatives" should grow substantially in ’13. Tone of Call was positive."
FY12 EPS estimate raised from $0.62 to $0.85. Initial 2013 revenue range could be $410-430M vs. $380M in ’12 (excluding the $60M push out from ’11).
For an analyst ratings summary and ratings history on Cray click here. For more ratings news on Cray click here.
Shares of Cray closed at $12.43 yesterday, with a 52 week range of $4.96-$12.93.
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Analyst, Glenn Hanus, said, "Cray reported 2Q about as expected and reiterated 2012 guide as all contracts required have been awarded. A key dependency remains timely delivery of “Kepler” chips. Cray is tracking to meet its ‘12 goal of 10% of revenue from “new initiatives”. Cray is building its pipeline and awards for ’13 as its competitive position in HPC appears strong and "new initiatives" should grow substantially in ’13. Tone of Call was positive."
FY12 EPS estimate raised from $0.62 to $0.85. Initial 2013 revenue range could be $410-430M vs. $380M in ’12 (excluding the $60M push out from ’11).
For an analyst ratings summary and ratings history on Cray click here. For more ratings news on Cray click here.
Shares of Cray closed at $12.43 yesterday, with a 52 week range of $4.96-$12.93.
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